It has transformed financial relations, ensuring greater coordination and efficiency in the Indian tax system. GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once a year by the 30th of April, following a financial year. This blog discusses about GSTR-4 Due Date.
GSTR-4 is a return form that needs to be filed by taxpayers who have opted for the Composition Scheme under the GST regime. It is a quarterly return that needs to be filed by the 18th of the month after the end of the quarter. The return contains details of the taxpayer’s inward and outward supplies along with the tax liability and payment details. Taxpayers need to file GSTR-4 on time to avoid any penalties or late fees.
DEFINITION
GSTR-4 is a GST return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once a year by the 30th of April, following a financial year.
GSTR-4 DUE
GSTR-4 is a GST return that has to be filed by a composition dealer. It is a summary return that businesses need to file every year, instead of three monthly returns like normal taxpayers. This return requires a summary of outward supplies, inward supplies, input tax credit (ITC) claimed, and the amount of tax paid. The due date for GSTR-4 is the 30th of April, following a financial year.
For example, the GSTR-4 for FY 2021-22 is due by 30th April 2022. Until the FY 2018-19, the due date was the 18th of the month after the end of the quarter.
They are as follows: Any supplier that is unrelated to the restaurant business.
- Paan masala and tobacco manufacturers.
- Manufacturers of ice cream or ice cream-based products.
- Supplier of goods that are exempt from GST.
- Supplier of inter-state goods, and
- Supplier of non-taxable goods.
IMPORTANT INFORMATION ABOUT THE GSTR 4
GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once a year by the 30th of April, following a financial year.
This is a summary return that businesses need to file every month. It requires a summary of outward supplies, inward supplies, input tax credit (ITC) claimed, and the amount of tax paid. GSTR-4: Small taxpayers who have opted for the composition scheme need to file GSTR-4.
FILING
GSTR-4 is a GST Return that has to be filed by a composition dealer. Unlike a normal taxpayer who needs to furnish 3 monthly returns, a dealer opting for the composition scheme is required to furnish only 1 return which is GSTR 4 once a year by the 30th of April, following a financial year.
GSTR-4 is a GST return that needs to be filed by taxpayers who have opted for the Composition Scheme under the GST regime. The filing process for GSTR-4 is quite simple and can be done online through the GST portal. Here are the steps to file GSTR-4:
- Log in to the GST portal using your credentials.
- Once you are logged in, select the ‘Services’ tab from the main menu, and then click on the ‘Returns’ tab.
- Select the financial year and the relevant quarter for which you want to file GSTR-4.
- Fill in the details of outward supplies, inward supplies, input tax credit (ITC) claimed, and the amount of tax paid.
- Once you have filled in all the details, click on the ‘Preview’ button to verify all the information entered.
- If everything looks good, click on the ‘Submit’ button to file your return.
- After the return is successfully filed, you will receive a confirmation message. It is important to file GSTR-4 on time to avoid any penalties or late fees. The due date for GSTR-4 is the 30th of April, following a financial year.
PROCEDURE TO FILE FOR GSTR-4 RETURN FILING
GSTR-4 is a quarterly return that needs to be filed by taxpayers who have opted for the Composition Scheme. Here is a step-by-step guide to filing GSTR-4:
- You have to first log in to the GST portal using your credentials.
- Once you are logged in, select the ‘Services’ tab from the main menu, and then click on the ‘Returns’ tab.
- After the return is successfully filed, you will receive a confirmation message.
CONCLUSION
To sum it up, GSTR-4 is a GST return that has to be filed by composition dealers in India. It is a summary return that businesses need to file every year, instead of three monthly returns like normal taxpayers. The return requires a summary of outward supplies, inward supplies, input tax credit (ITC) claimed, and the amount of tax paid.
The due date for GSTR-4 is the 30th of April, following a financial year. Small taxpayers who have opted for the composition scheme need to file GSTR-4. The process of filing GSTR-4 is simple and can be done online through the GST portal.
This Blog is written by Kratika Pal.
